5215 stories by Todd Shriber
Tropicana Las Vegas Listed for $384 Million, Post-Repair Value Could Be $500 Million
About a month after Tropicana was listed for sale again, owner Gaming & Leisure Properties (NASDAQ:GLPI) finally has an official asking price: $384 million, according to real estate web site MyHouseDeals.com. Rumors about the fate of the venue have circulated since March...
MGM Execs Discuss Paring MGP Stake, Wall Street Focusing on Sports Betting, Strip Recovery
MGM Resorts International (NYSE:MGM) reported fourth-quarter results after the close of US markets Wednesday and in a subsequent conference call with analysts. The BetMGM unit and the operator's plans for its equity in MGM Growth Properties (NYSE:MGP) took center stage. On the...
Playboy Goes Public Again In SPAC Merger, Could Hunt Gaming, Sports Bet Deals
After nearly a decade as a privately held company, Playboy is again public, following its completion of a merger with special purpose acquisition company (SPAC) Mountain Crest Acquisition Corp. The blank-check entity said last October it was paying $381 million to acquire...
MGM Pops After Board Member Meister Touts Sports Betting Prospects
Shares of MGM Resorts International (NYSE:MGM) rallied ahead of the company's earnings report later today. That's after board member Keith Meister talked up the operator's sports betting prospects in an interview with CNBC. In late trading, shares of the Bellagio operator are...
Palms Las Vegas Staying Closed for Now as Red Rock Prioritizes Free Cash Flow
Red Rock Resorts (NASDAQ:RRR) isn't planning to reopen Palms Las Vegas or its three other shuttered gaming outlets sooner than expected. Instead, the company will wait out Sin City's slow coronavirus recovery while emphasizing free cash flow generation at venues that are...
ARK Buys More DraftKings for Internet Exchange Traded Fund
Cathie Wood's ARK Investment Management is rapidly building a sizable stake in DraftKings (NASDAQ:DKNG) stock. The New York-based asset manager and exchange traded funds (ETFs) issuer bought another 443,500 shares of the daily fantasy sports (DFS) provider and online sports betting operator...
Bally’s Investors Understand Risks, Online Story Still Compelling, Says Analyst
Bally's Corp. (NYSE:BALY) stock is one of the most scintillating stories among gaming equities over the past year. With that torrid pace come risks, but one analyst believes investors are mindful of the potential pitfalls and that the name still offers upside....
Wynn Could Use Equity Sale Cash to Bolster Sports Betting Unit, Says Analyst
Wynn Resorts (NASDAQ:WYNN) announced Monday it's selling equity to raise capital, an offering that was increased due to strong demand. One sell-side analyst believes the operator's emerging interactive/sports betting unit is a likely destination for some of that cash. On Monday morning,...
Planet Hollywood Sale Rumors Swirling, Suitor List Could Be Long
A well-known Las Vegas insider says rumors are floating around regarding Caesars Entertainment (NASDAQ:CZR) potentially selling Planet Hollywood on the Strip. In a post earlier this afternoon, Vital Vegas notes a sale of the venue could be announced over the near-term. But...
Bally’s Back in Acquisition Mode, Buying Predictive Games Maker SportCaller
Bally's Corp. (NYSE:BALY) is back at the acquisition altar, announcing today it's buying free-to-play games provider SportCaller. Financial terms of the transaction weren't disclosed. Dublin-based SportCaller makes predictive, quiz/trivia, pay-to-play, bespoke, and turn-key app games. Clients include BetMGM, Coral, Entain, FanDuel, Paddy...
